Facebook and Yahoo have revealed they’re tired of fighting - putting their patents dispute to bed and opting instead to form an ad alliance.
In a joint statement, the two companies announced they would cross-licence innovations and collaborate on future patents. No money was paid to either party.
Yahoo took legal action against the social network in March, claiming Facebook infringed 10 of its patents relating to advertisements, privacy controls, news feed, messaging and website personalisation. Facebook then countersued - alleging Yahoo violated 10 of its patents, many of which formed a huge portion of the flagging internet giant’s business.
However, following the appointment of interim CEO Ross Levinsohn, Yahoo immediately began taking steps to resolve the dispute.
"We are excited to develop a deeper partnership with Facebook, and I’m grateful to Sheryl and her team for working hard together with our team to develop this dynamic agreement. We are looking forward to building on the success we have already seen to provide innovative new products and experiences for both consumers and sponsors," Yahoo’s interim CEO Ross Levinsohn said in a press release.
"Combining the premium content and reach of Yahoo as the world’s leading digital media company with Facebook provides branded advertisements with unmatched opportunity."
Facebook’s chief operating officer was also involved in negotiations.
"I’m pleased that we were able to resolve this in a positive manner and look forward to partnering closely with Ross and the leadership at Yahoo," said Sheryl Sandberg, Chief Operating Officer at Facebook.
"Yahoo’s new leaders are driven by a renewed focus on innovation and providing great products to users. Together, we can provide users with engaging social experiences while creating value for marketers."
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